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BioMotiv: An Rx For Asset Financing Without The Venture Headache

 
• By Alex Lash

Backed by a Cleveland family foundation and powerful hospital group, the for-profit BioMotiv wants to do biopharma asset financing on its own terms.

The list of asset-based financing groups in the biopharma world continues to grow. Many are tied to venture capital. Velocity Pharmaceutical Development, Atlas Venture Development, and Inception Sciences were carved out of funds run by CMEA Capital, Atlas Venture, and Versant Ventures, respectively. Index Ventures created its first life science-only fund recently with Big Pharma backers and an asset-centric bent. (SeeAlso see "Backing New Index Fund, GSK, J&J Buy Into Asset-Centric Vision Of Biotech Future" - Pink Sheet, 26 March, 2012..)

But newly launched BioMotiv LLC has a different take. It has $21 million in hand from a Cleveland-area public-private partnership and is looking for a total of $100 million

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